Walleye Capital LLC Sells 172,316 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• Walleye Capital LLC significantly reduced its stake in Revolution Medicines, Inc. by 81% in Q1, now holding 40,340 shares valued at approximately $1.43 million.
• Thirteen analysts currently give Revolution Medicines a consensus rating of "Buy", with target prices ranging from $56.00 to $80.00.
• Revolution Medicines reported a quarterly loss of ($1.31) per share, missing analysts' expectations, as analysts forecast a loss of -3.49 EPS for the current fiscal year.

Walleye Capital LLC lowered its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 81.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,340 shares of the company's stock after selling 172,316 shares during the period. Walleye Capital LLC's holdings in Revolution Medicines were worth $1,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goodman Advisory Group LLC bought a new stake in shares of Revolution Medicines in the first quarter worth $127,000. GF Fund Management CO. LTD. increased its stake in shares of Revolution Medicines by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock worth $152,000 after buying an additional 775 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Revolution Medicines by 349.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock worth $160,000 after purchasing an additional 3,518 shares during the period. BIT Capital GmbH acquired a new position in Revolution Medicines in the first quarter worth $178,000. Finally, Kestra Private Wealth Services LLC acquired a new position in Revolution Medicines in the first quarter worth $216,000. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Performance

Shares of RVMD traded down $0.36 during midday trading on Monday, hitting $37.97. 1,943,371 shares of the stock traded hands, compared to its average volume of 2,058,802. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The firm has a market capitalization of $7.10 billion, a PE ratio of -8.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79. The business's 50 day moving average price is $37.21 and its two-hundred day moving average price is $38.14.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). During the same quarter last year, the company posted ($0.81) EPS. The firm's quarterly revenue was up .0% on a year-over-year basis. Equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Needham & Company LLC decreased their price objective on shares of Revolution Medicines from $57.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, August 7th. The Goldman Sachs Group assumed coverage on shares of Revolution Medicines in a report on Tuesday, July 15th. They issued a "buy" rating and a $65.00 price objective for the company. Piper Sandler assumed coverage on shares of Revolution Medicines in a report on Monday, August 18th. They issued an "overweight" rating and a $75.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $73.00 price objective (up previously from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $69.92.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.